IRS Issues Proposed Regs on Healthcare Coverage Information Reporting

On September 5, 2013, the Internal Revenue Service (IRS) issued two proposed regulations to implement the information reporting requirements for insurers and certain employers under the Affordable Care Act (ACA). One proposed rule would require large employers to report to the IRS information regarding the health care coverage offered to full-time employees. The second proposed rule would require insurers, self-insured employers, government-sponsored programs, and entities that provide minimum essential coverage to report information on this coverage to the IRS and to covered individuals.